Ready, Set, Go!
In a pilot program that dates back to 2018, the Jamaica Stock Exchange and Blockstation were able to demonstrate the future potential of digital securities.
Fast forward to 2020, and this relationship has paid dividends, as the pair has just announced the official launch of their new platform.
Through a series of services, Blockstation can host digital securities offerings (DSOs) for companies in search of capital through the Jamaica Stock Exchange. As a result, this capability brings Blockstation into rarified air, as they become one of very few tokenization platforms working so intimately with a traditional, regulated exchange.
While the new platform is being touted as a comprehensive ‘end-to-end’ solution, Blockstation decided to focus on a few key features/benefits on offer. The following points are drawn directly from their announcement.
- Built-in Know-Your-Client (KYC) and Anti-Money Laundering (AML) functionality to satisfy regulatory obligations
- Prospectus+ Smart Listing Accelerator Portal streamlines the creation of complete and compliant disclosure documentation
- Centralized digital filing and communication between all stakeholders to complete the IPO
- Real-time reporting and trade monitoring to mitigate abusive market tactics
- Dramatically reduced costs and timelines to conduct an IPO
Champing at the Bit
Building on the positivity surrounding the integration of Blockstation and the JSE, is the fact that various companies are already getting their ducks in a row to take advantage.
Despite just going live, there are already 5 companies being assessed for a potential DSO hosted by the JSE.
Perhaps because of their successful relationship with the JSE, Blockstation also finds themselves making inroads into another Caribbean nation – Barbados.
We previously reported on an MOU between the pair at roughly the same time as the pilot with the JSE. With the announcement of a finalized integration between Blockstation and JSE just occurring, will we soon see a similar announcement involving the Barbados Stock Exchange?
Marko Hafez, CEO of Blockstation, states,
“We are excited to officially launch the Prospectus+ Smart Listing Accelerator Portal for issuers to tokenize their equity and list on a regulated stock exchange…The portal features low costs, short timelines and international reach, making Tokenized IPOs suitable for companies of all sizes and an attractive proposition for issuers who never would have considered going public in the past.”
Marlene Street Forrest, Managing Director of JSE, states,
“Blockstation’s platform incorporates familiar compliance rules to ensure a fair marketplace. We have spent considerable time and effort in our quest to move forward with Blockstation and to date, the training and support they have provided have been excellent.”
Founded in 2015, Blockstation maintains headquarters in Toronto. The team behind Blockstation work to develop solutions meant to integrate traditional exchanges with blockchain based technologies.
CEO, Marko Hafez, currently oversees company operations.
Jamaica Stock Exchange
Founded in 1969, the Jamaica Stock Exchange maintains headquarters in Kingston. This regulated exchange has become the nation’s de facto trading platform since being launched roughly 50 years ago.
Managing Director, Marlene Street Forrest, currently oversees company operations.
In Other News
Over the past year, we have reported on various developments surrounding Blockstation. Whether establishing partnerships with exchanges, establishing industry framework, or attempting to lure athletes to the great white north, the company has remained busy.